The municipal corporation now existing and known as the City of Oberlin shall continue to be a body politic and corporate under the same name and with the same boundaries, with power and authority to change its boundaries in the manner authorized by the laws of the State of Ohio, except that no territory of this Municipality shall be detached from, annexed to or merged with any other body politic without the assent of the Council and of a majority of the electors of the City voting on such question at a general election held and conducted in the manner provided by law. Contiguous territory may be annexed to the Municipal Corporation in the manner provided by the laws of the State of Ohio.